The Central Bank of Nigeria (CBN) urges bank customers to report ATM and branch cash withdrawal difficulties starting December 1, 2024, through designated state-specific phone numbers and email addresses.
The CBN Governor Olayemi Cardoso announced this directive during the 2024 Annual Bankers Dinner organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.
Cardoso acknowledges cash availability issues at ATMs, which impact ordinary Nigerians. To address this, the apex bank will conduct spot checks on Deposit Money Banks (DMBs) and penalize underperforming institutions
“We recognize the ongoing challenges with cash availability at ATMs, which disproportionately affect ordinary Nigerians.
“To address this, we are conducting spot checks across Deposit Money Banks (DMBs) and will impose penalties on underperforming institutions.
“Effective December 1, 2024, customers are encouraged to report any difficulties withdrawing cash from bank branches or ATMs directly to the CBN through designated phone numbers and email addresses for their respective states,” he stated
He assured that guidelines with reporting procedures will be widely distributed to raise public awareness.
Cardoso emphasized the need for compliance from all stakeholders, including Deposit Money Banks (DMBs), Mobile Money Operators, and PoS agents, to enhance service delivery.
“I repeat, financial institutions found engaging in malpractices or deliberate sabotage will face stringent penalties,” he warned
The governor added that the apex bank would maintain a robust cash buffer to meet demand during high-pressure periods like the festive season.
To foster digital transactions and trust, Cardoso reiterated CBN’s commitment to addressing payment delays, particularly for vulnerable populations.
